European Bank for Reconstruction and Development allowed a credit in the amount of 243 mln. Euro to KazTransGas JSC National Operator

KazTransGas JSC acquired a loan to the total amount of 243 mln. Euro (in National currency) in European Bank for Reconstruction and Development (EBRD).

KazTransGas JSC and European Bank for Reconstruction and Development cooperate for many years. The main purpose of the allowed EBRD loan is a support of Kazakhstan gas operator during the period of economic turbulence as a consequence of coronaviral infection pandemic and downturn in energy prices.

The allowed loan will assist KazTransGas JSC to increase a working capital and current position as well as to improve significantly the credit terms and mitigate negative processes, caused by influence of economic crisis due to coronaviral infection.

EBRD financing will allow subsidiary companies of KazTransGas JSC to improve their environmental impact using such measures, as exclusion of fugitive methane emissions, as well as development and implementation of programs for reducing carbon intensity in support of green economy strategy of Kazakhstan.

EBRD package will consist of a loan for working capital to the amount of 100 mln. Euro (in National currency or in US dollars) and credit for balance restructuring to the amount of 53,7 bln. KZT (115,3 mln. Euro) to subsidiary company of KazTransGas JSC – Intergas Central Asia JSC, responsible for operation and technical maintenance of gas transportation network in Kazakhstan.

Up to 12,9 bln. KZT (27,6 mln. Euro) will be provided for balance restructuring in the sphere of supplies, distribution and operation of natural gas in the gasified regions of Kazakhstan.

Support of its clients is a part of EBRD response to coronaviral infection pandemic. It is expected that all bank investments to the amount of 21 bln. Euro in 2020-21 will be aimed to the response measures and reconstruction after coronaviral infection pandemic.

As of today EBRD has invested 8,63 bln. Euro in 273 Kazakhstan economic projects.

Press service of KazTransGas JSC

Tel.: +7(7172) 55 23 16